Capitalism Will Continue To Eliminate Mass Poverty

All Loans, In The Eyes Of Honest Borrowers, Must Eventually Be Repaid. All Credit Is Debt. Proposals For An Increased Volume Of Credit, Therefore, Are Merely Another Name For Proposals For An Increased Burden Of Debt. They Would Seem Considerably Less Inviting If They Were Habitually Referred To By The Second Name Instead Of By The First.

If A Government Resorts To Inflation, That Is, Creates Money In Order To Cover Its Budget Deficits Or Expands Credit In Order To Stimulate Business, Then No Power On Earth, No Gimmick, Device, Trick Or Even Indexation Can Prevent Its Economic Consequences.

The Quickest And Surest Way To Production, Prosperity, And Economic Growth Is Through Private Enterprise. The Best Way For Governments To Encourage Private Enterprise Is To Establish Justice, To Enforce Contracts, To Insure Domestic Peace And Tranquility, To Protect Private Property, And To Secure The Blessings Of Liberty Including Economic Liberty - Which Means To Stop Putting Obstacles In The Way Of Private Enterprise.

The Monetary Managers Are Fond Of Telling Us That They Have Substituted 'responsible Money Management' For The Gold Standard. But There Is No Historic Record Of Responsible Paper Money Management ... The Record Taken, As A Whole Is One Of Hyperinflation, Devaluation And Monetary Chaos.

Diluting The Money Supply With Paper Is The Moral Equivalent Of Diluting The Milk Supply With Water.